"We have received no proposal from the steel ministry on removing the export duty. We will consider it only after receiving the proposal", said finance minister P Chidambaram told reporters after the Cabinet briefing.
The government on May 10 notified the imposition of upto 15 per cent export duty on various steel products to discourage export and increase domestic availability. Chidambaram had announced the export duty while presenting the Finance Bill on April 29.
The export duty on cold rolled coils, hot rolled coils and galvanised sheets is at the rate of 15, 10 and 5 per cent, respectively. The country exported 4.8 million tonnes of steel in the last financial year.
Steel secretary R S Pandey told reporters yesterday that the ministry is examining the demand of industry to rollback the export duty.
